XML 33 R19.htm IDEA: XBRL DOCUMENT v3.23.2
Segment Reporting
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company is reporting its financial performance based on its external reporting segments: Wireless Infrastructure Services and Telecommunications.  These reportable segments are described below.
Wireless Infrastructure Services (“Wireless”) The Company's Wireless segment provides turn-key wireless infrastructure services for the four major U.S. wireless carriers, communication tower companies, national integrators, and original equipment manufacturers that support these wireless carriers.  These services primarily consist of the installation and upgrade of technology on cell sites and the construction of new small cells for 5G.
Telecommunications (“Telco”) The Company’s Telco segment sells new and refurbished telecommunications networking equipment, including both central office and customer premise equipment, to its customer base of telecommunications providers, enterprise customers and resellers located primarily in North America. This segment also offers its customers repair and testing services for telecommunications networking equipment.
The Company evaluates performance and allocates its resources based on operating income. The accounting policies of its reportable segments are the same as those described in the summary of significant accounting policies. Segment assets consist primarily of cash and cash equivalents, accounts receivable, inventory, property and equipment, goodwill and intangible assets. The Company allocates its corporate general and administrative expenses to the reportable segments.
(in thousands)Three Months EndedSix Months Ended
June 30, 2023June 30, 2022June 30, 2023June 30, 2022
Sales
Wireless$6,329 $7,243 $12,901 $15,009 
Telco5,759 20,546 13,906 36,539 
Total sales$12,088 $27,789 $26,807 $51,548 
Gross profit
Wireless$1,786 $1,974 $3,131 $3,511 
Telco1,486 6,173 3,558 10,394 
Total gross profit$3,272 $8,147 $6,689 $13,905 
Income (loss) from operations
Wireless$(1,676)$(1,461)$(3,780)$(3,659)
Telco(624)2,606 (1,073)3,640 
Total income (loss) from operations$(2,300)$1,145 $(4,853)$(19)
(in thousands)June 30, 2023December 31, 2022
Segment assets
Wireless$6,260 $9,790 
Telco10,952 13,217 
Non-allocated3,761 4,211 
Total assets$20,973 $27,218